Ghana’s Minority Leader in Parliament, Alexander Afenyo-Markin, has emphasized the need for bipartisan efforts to strengthen the country’s private sector and overhaul its financial systems to better support local businesses.
Speaking at the second Kwebu Business Forum in Kwahu, he urged stakeholders to foster an entrepreneurial environment where access to funding and innovation—not political connections—drive economic success.
Under the theme “The Future of Business: The Role of the Financial Sector,” the forum convened business leaders, financiers, and policymakers to address systemic barriers hindering Ghanaian enterprises. Afenyo-Markin described the event as a catalyst for reimagining economic strategies, stressing that financial institutions must prioritize merit-based support for small and medium-scale enterprises (SMEs), particularly those led by youth.
“No economy can thrive where access to finance remains elusive,” he asserted, linking Ghana’s economic stability to the viability of its domestic businesses. He identified youth unemployment as a pressing national crisis, calling for inclusive financial policies to unlock job creation through SME growth.
Drawing from his dual experience in public office and private enterprise, Afenyo-Markin highlighted the challenges faced by Ghanaian entrepreneurs. “I understand the excitement of opportunity and the burdens entrepreneurs carry,” he said, urging lawmakers to craft policies rooted in practical business realities rather than partisan agendas.
His remarks come amid longstanding critiques of Ghana’s financial ecosystem, where limited credit access and bureaucratic hurdles often stifle innovation. While the government has introduced initiatives like the National Entrepreneurship and Innovation Programme (NEIP), critics argue implementation gaps persist, leaving many SMEs underserved.
The Kwahu forum’s focus on depoliticizing business aligns with broader regional efforts to stimulate intra-African trade under the African Continental Free Trade Area (AfCFTA). As Ghana positions itself as a hub for continental commerce, reconciling political divides with economic imperatives may prove pivotal. Success, however, will hinge on translating dialogue into actionable reforms, a test of both political will and institutional agility in an era of global economic uncertainty.
